Michael Vick has a deal to stay with Philadelphia, though insiders warn that the veteran quarterback may still have to compete for the starting job.

The Michael Vick deal was reported early on Monday, with news that Vick and the Eagles reached a restructured contract to bring the quarterback back for 2013. After being reported by Fox Sports reporter Jay Glazer, the Eagles website confirmed the signing.

But the team’s website notes the quarterback’s new position with the team in the headline “Vick stays to compete for job.”

Vick’s position with the team came into jeopardy last season, when inconsistency and injury led the team to start rookie Nick Foles. Though Foles had some difficulty in spot duty, the team sees him as a promising option for next season.

But Vick is a better fit in new head coach Chip Kelly’s fast-paced, wide open offense than Foles. Experts around the NFL think Kelly is still likely to add another quarterback to the mix to ramp up the competition, and the team has made it clear that the new deal guarantees Michael Vick nothing, not even a spot on the roster.

Michael Vick’s deal will likely make 2013 a make or break year, NBC Sports writer John Alper notes: “If Vick can rebound after two rough seasons, the Eagles will likely continue the relationship beyond this season. If not, they’ll split up without any further ado.”

Michael Vick’s new deal comes with a pay cut, NFL.com notes. He had previously earned $15.5 million, but now can earn up to $10 million if he hits certain incentives.